Quote:
Originally Posted by PBzeer
Now I'm confused again. Seems the root problem of the present financial difficulties is bad loans. I read that from the left, the right and the center. Seems to be pretty much agreed on (shoot, even Rick agrees). So who can explain to my why it's Bush's fault or the fault of deregulation, that lenders made all of these bad loans?
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Bankers were allowed to make loans to people without any documentation of income, which would not have happened without proper oversight and regulation. The bad loans were then sandwiched in with all of the good loans, and sold to unsuspecting third parties as securities. I'm sure you already knew this, but that's my take on the deregulation/crap oversight problem.